CNH Industrial NV (CNH) Balance Sheet

NYSE: CNHAssets, liabilities, debt and equity over 10 years.

CNH balance sheet, 2025

December 31, 2025 · U.S. dollars

$42.75B assets = $34.92B liabilities + $7.83B equity

Both columns are drawn to the same scale: what CNH owns equals what it owes plus shareholders’ equity. Hover a block for its value.

CNH financial health

Current ratio2.23

Comfortable · current assets cover current liabilities 2.23×

Debt / equity3.50

High leverage · $3.50 of debt for each $1 of equity

Equity / assets18.1%

Thin equity · of assets funded by shareholders

Cash / debt9.5%

Low cash cover · cash & short-term investments vs total debt

Goodwill & intangibles11.0%

Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

CNH balance sheet trends, 2016–2025

CNH Industrial NV balance sheet trends
Metric	Then	Latest	Change
Total assets	$45.55B2016	$42.75B2025	−0.7%/yr
Total liabilities	$41.08B2016	$34.92B2025	−1.8%/yr
Shareholders’ equity	$4.44B2016	$7.73B2025	+6.3%/yr
Cash & short-term investments	$5.02B2016	$2.58B2025	−7.1%/yr
Total debt	$35.60B2016	$27.03B2025	−3.0%/yr
Net cash (debt)	−$30.59B2016	−$24.46B2025	+$6.1B
Working capital	$23.58B2016	$17.30B2025	−$6.3B
Book value per share	$3.262016	$6.182025	+7.4%/yr
Current ratio	4.292016	2.232025	−2.06
Debt / equity	8.012016	3.502025	−4.51
Shares outstanding	1.36B2016	1.25B2025	−0.9%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

CNH assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

CNH liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

CNH debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

CNH balance sheet

CNH Industrial NV annual balance sheet
	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash & short-term investments	$2.58B	$3.19B	$4.32B	$4.38B	$5.04B	$8.79B	$4.88B	$5.03B	$5.43B	$5.02B
Cash & equivalents	$2.58B	$3.19B	$4.32B	$4.38B	$5.04B	$8.79B	$4.88B	$5.03B	$5.43B	$5.02B
Short-term investments	—	—	$220.0M	$105.0M	$76.0M	$469.0M	$44.0M	—	—	—
Receivables	$23.53B	$23.38B	$24.76B	$19.73B	$15.57B	$18.96B	$19.84B	$19.57B	$20.29B	$19.29B
Inventory	$4.65B	$4.78B	$5.54B	$4.81B	$4.22B	$6.02B	$7.08B	$6.73B	$6.45B	$5.61B
Other current assets	$651.0M	$675.0M	$723.0M	$753.0M	$14.35B	$844.0M	$898.0M	$772.0M	$770.0M	$837.0M
Total current assets	$31.41B	$32.02B	$35.35B	$29.67B	$39.17B	$34.61B	$32.70B	$32.09B	$32.94B	$30.75B
Property, plant & equipment (net)	$3.77B	$3.40B	$3.33B	$3.03B	$3.21B	$6.90B	$7.13B	$7.67B	$8.68B	$8.30B
Goodwill & intangible assets	$4.70B	$4.80B	$4.91B	$4.45B	$4.42B	$2.70B	$3.34B	$3.24B	$3.26B	$3.24B
Long-term investments	$437.0M	$490.0M	$563.0M	$385.0M	$333.0M	$921.0M	$0	$0	$0	$0
Other non-current assets	$2.43B	$2.22B	$2.12B	$1.84B	$2.28B	$3.59B	$4.18B	$3.09B	$3.42B	$3.26B
Total assets	$42.75B	$42.93B	$46.27B	$39.38B	$49.42B	$48.72B	$47.35B	$46.10B	$48.30B	$45.55B
Liabilities
Accounts payable	$2.25B	$2.29B	$3.61B	$3.70B	$3.53B	$6.36B	$5.63B	$5.89B	$6.06B	$5.18B
Short-term debt	$10.02B	$10.84B	$11.48B	$9.81B	$10.06B	$11.54B	$10.47B	$10.45B	$11.49B	$10.28B
Deferred revenue	$122.0M	$72.0M	$50.0M	$33.0M	$20.0M	$1.38B	$1.24B	$1.37B	$1.50B	$714.0M
Total current liabilities	$14.11B	$14.80B	$17.46B	$5.63B	$17.72B	$9.74B	$8.77B	$9.23B	$9.69B	$7.17B
Long-term debt	$26.76B	$16.04B	$15.85B	$13.37B	$20.90B	$26.05B	$0	$0	$0	$0
Lease obligations	$272.0M	$282.0M	$300.0M	$228.0M	$196.0M	$453.0M	—	—	—	—
Other long-term liabilities	$0	$4.32B	$4.81B	$13.40B	$3.95B	$7.89B	$32.43B	$31.77B	$34.36B	$33.91B
Total liabilities	$34.92B	$35.16B	$38.12B	$32.41B	$42.56B	$43.69B	$41.20B	$41.00B	$44.04B	$41.08B
Shareholders' equity
Common stock & paid-in capital	$25.0M	$25.0M	$25.0M	$25.0M	$25.0M	$25.0M	$25.0M	$25.0M	$25.0M	$25.0M
Retained earnings (deficit)	$10.51B	$10.31B	$9.65B	$7.91B	$4.82B	$3.28B	$3.81B	$2.60B	$1.76B	$1.79B
Accumulated other comprehensive income	−$2.77B	−$2.71B	−$2.36B	−$2.28B	−$2.44B	−$2.68B	−$2.00B	−$1.86B	−$1.97B	−$1.77B
Minority interest	$95.0M	$117.0M	$120.0M	$49.0M	—	—	—	—	—	—
Total shareholders' equity	$7.73B	$7.65B	$8.03B	$6.93B	$6.78B	$4.91B	$6.08B	$5.04B	$4.22B	$4.44B
Key figures
Total debt	$27.03B	$27.16B	$27.63B	$23.19B	$31.16B	$38.05B	$35.78B	$34.89B	$37.39B	$35.60B
Net cash (debt)	−$24.46B	−$23.97B	−$23.30B	−$18.81B	−$26.11B	−$29.26B	−$30.90B	−$29.86B	−$31.96B	−$30.59B
Working capital	$17.30B	$17.22B	$17.89B	$24.04B	$21.45B	$24.87B	$23.93B	$22.86B	$23.26B	$23.58B
Tangible book value	$3.03B	$2.85B	$3.12B	$2.48B	$2.36B	$2.21B	$2.74B	$1.80B	$960.0M	$1.21B
Book value per share	$6.18	$6.07	$5.95	$5.09	$4.98	$3.58	$4.49	$3.71	$3.09	$3.26
Shares outstanding	1.25B	1.26B	1.35B	1.36B	1.36B	1.37B	1.35B	1.36B	1.37B	1.36B
Current ratio	2.23	2.16	2.02	5.27	2.21	3.55	3.73	3.48	3.40	4.29
Quick ratio	1.85	1.80	1.67	4.28	1.16	2.85	2.82	2.66	2.66	3.39
Debt / equity	3.50	3.55	3.44	3.35	4.60	7.75	5.88	6.92	8.85	8.01
Equity / assets	18.1%	17.8%	17.4%	17.6%	13.7%	10.1%	12.8%	10.9%	8.7%	9.8%

CNH Industrial NV quarterly balance sheet
	Jun '26	Mar '26	Dec '25	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24	Mar '24	Dec '23	Sep '23
Assets
Cash & short-term investments	$2.32B	$1.60B	$2.58B	$2.30B	$2.51B	$1.70B	$3.19B	$1.80B	$2.00B	$3.24B	$4.32B	$2.98B
Cash & equivalents	$1.87B	$1.60B	$2.58B	$2.30B	$2.51B	$1.70B	$3.19B	$1.80B	$2.00B	$3.24B	$4.32B	$2.98B
Short-term investments	$452.0M	—	—	—	—	—	—	—	$94.0M	$72.0M	$90.0M	$98.0M
Receivables	$22.99B	$23.03B	$23.53B	$23.46B	$23.85B	$23.43B	$23.38B	$24.55B	$24.34B	$24.50B	$24.76B	$22.67B
Inventory	$5.17B	$5.23B	$4.65B	$5.35B	$5.22B	$5.16B	$4.78B	$5.93B	$5.95B	$6.19B	$5.54B	$6.45B
Other current assets	$596.0M	$735.0M	$651.0M	$653.0M	$635.0M	$703.0M	$675.0M	$649.0M	$645.0M	$723.0M	$723.0M	$706.0M
Total current assets	$31.07B	$30.60B	$31.41B	$31.77B	$32.21B	$30.98B	$32.02B	$32.93B	$32.94B	$34.65B	$35.35B	$32.80B
Property, plant & equipment (net)	$3.80B	$3.79B	$3.77B	$3.73B	$3.70B	$3.50B	$3.40B	$3.39B	$3.26B	$3.28B	$3.33B	$3.13B
Goodwill & intangible assets	$4.67B	$4.68B	$4.70B	$4.80B	$4.86B	$4.82B	$4.80B	$4.87B	$4.85B	$4.87B	$4.91B	$4.73B
Long-term investments	$452.0M	$427.0M	$437.0M	$508.0M	$505.0M	$471.0M	$490.0M	$532.0M	$615.0M	$559.0M	$563.0M	$477.0M
Other non-current assets	$2.18B	$2.54B	$2.43B	$2.45B	$2.40B	$2.29B	$2.22B	$2.32B	$2.29B	$2.37B	$2.12B	$1.90B
Total assets	$42.17B	$42.04B	$42.75B	$43.26B	$43.69B	$42.06B	$42.93B	$44.03B	$43.96B	$45.73B	$46.27B	$43.04B
Liabilities
Accounts payable	$2.41B	$2.44B	$2.25B	$2.28B	$2.42B	$2.22B	$2.29B	$2.41B	$2.91B	$3.23B	$3.61B	$3.57B
Short-term debt	—	—	$10.02B	$0	$0	$284.0M	$10.84B	$302.0M	$297.0M	$318.0M	$11.48B	$169.0M
Deferred revenue	—	$128.0M	$122.0M	$112.0M	$93.0M	$85.0M	$72.0M	$66.0M	$59.0M	$55.0M	$50.0M	$43.0M
Total current liabilities	$4.34B	$4.26B	$14.11B	$4.03B	$4.12B	$3.89B	$14.80B	$4.17B	$4.69B	$5.24B	$17.46B	$5.60B
Long-term debt	$25.97B	$25.90B	$26.76B	$27.13B	$27.41B	$26.01B	$26.88B	$27.30B	$26.81B	$27.78B	$15.85B	$24.96B
Lease obligations	$289.0M	$288.0M	$272.0M	$287.0M	$286.0M	$284.0M	$282.0M	$302.0M	$297.0M	$318.0M	$300.0M	$241.0M
Other long-term liabilities	$4.01B	$4.01B	$0	$4.26B	$4.32B	$4.20B	$0	$4.79B	$4.80B	$4.69B	$4.81B	$4.37B
Total liabilities	$34.38B	$34.17B	$34.92B	$35.42B	$35.85B	$34.10B	$35.16B	$36.26B	$36.30B	$37.71B	$38.12B	$34.93B
Shareholders' equity
Common stock & paid-in capital	$25.0M	$25.0M	$25.0M	$25.0M	$25.0M	$25.0M	$25.0M	$25.0M	$25.0M	$25.0M	$25.0M	$25.0M
Retained earnings (deficit)	$10.53B	$10.51B	$10.51B	$10.42B	$10.34B	$10.44B	$10.31B	$10.14B	$9.99B	$10.15B	$9.65B	$9.13B
Accumulated other comprehensive income	−$2.70B	−$2.70B	−$2.77B	−$2.71B	−$2.69B	−$2.65B	−$2.71B	−$2.56B	−$2.56B	−$2.42B	−$2.36B	−$2.30B
Minority interest	$97.0M	$96.0M	$95.0M	$105.0M	$121.0M	—	—	—	—	—	—	—
Total shareholders' equity	$7.76B	$7.77B	$7.73B	$7.73B	$7.71B	$7.84B	$7.65B	$7.64B	$7.54B	$7.89B	$8.03B	$7.99B
Key figures
Total debt	$26.25B	$26.19B	$27.03B	$27.41B	$27.69B	$26.29B	$27.16B	$27.60B	$27.11B	$28.10B	$27.63B	$25.20B
Net cash (debt)	−$23.93B	−$24.59B	−$24.46B	−$25.11B	−$25.18B	−$24.60B	−$23.97B	−$25.80B	−$25.10B	−$24.86B	−$23.30B	−$22.22B
Working capital	$26.73B	$26.34B	$17.30B	$27.74B	$28.09B	$27.09B	$17.22B	$28.75B	$28.25B	$29.41B	$17.89B	$27.20B
Tangible book value	$3.09B	$3.09B	$3.03B	$2.93B	$2.85B	$3.02B	$2.85B	$2.78B	$2.69B	$3.02B	$3.12B	$3.26B
Book value per share	$6.24	$6.25	$6.20	$6.17	$6.16	$6.26	$6.11	$6.09	$5.98	$6.19	$6.02	$5.91
Shares outstanding	1.24B	1.24B	1.25B	1.25B	1.25B	1.25B	1.25B	1.25B	1.26B	1.27B	1.33B	1.35B
Current ratio	7.16	7.19	2.23	7.88	7.81	7.96	2.16	7.89	7.02	6.61	2.02	5.86
Quick ratio	5.83	5.78	1.85	6.39	6.39	6.46	1.80	6.31	5.61	5.29	1.67	4.58
Debt / equity	3.39	3.37	3.50	3.55	3.59	3.35	3.55	3.61	3.60	3.56	3.44	3.16
Equity / assets	18.4%	18.5%	18.1%	17.9%	17.7%	18.6%	17.8%	17.4%	17.1%	17.3%	17.4%	18.6%

Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 26, 2026); data from EODHD.

CNH financial position

At the end of fiscal 2025 (December 31, 2025), CNH Industrial had total assets of $42.7 billion (down 0.4% from a year earlier), total liabilities of $34.9 billion and shareholders' equity of $7.7 billion. It held $2.6 billion in cash and short-term investments against $27.0 billion of debt, net debt of $24.5 billion. Its current ratio was 2.23. In the latest quarter (ended June 30, 2026) total assets were $42.2 billion and equity $7.8 billion.

Related: CNH income statement, CNH cash flow statement, CNH key metrics. See the CNH stock overview for the latest quote and news.

CNH balance sheet FAQ

What are CNH Industrial's total assets?

CNH Industrial reported total assets of $42.7 billion at the end of fiscal 2025 (December 31, 2025), compared with $42.9 billion a year earlier.

How much debt does CNH Industrial have?

CNH Industrial had $27.0 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 3.50.

How much cash does CNH Industrial have?

CNH Industrial held $2.6 billion in cash and short-term investments at the end of fiscal 2025; with $27.0 billion of debt that is net debt of $24.5 billion.

What is CNH Industrial's book value?

CNH Industrial's shareholders' equity (book value) was $7.7 billion at the end of fiscal 2025, or $6.18 per share.

What is CNH Industrial's current ratio?

CNH Industrial had current assets of $31.4 billion and current liabilities of $14.1 billion, a current ratio of 2.23 (it can cover its short-term obligations).

How much goodwill does CNH Industrial have?

CNH Industrial carried $4.7 billion of goodwill and intangible assets, 11.0% of total assets, at the end of fiscal 2025.